Synchrony Financial $SYF Shares Sold by Rossby Financial LCC

Rossby Financial LCC lowered its position in Synchrony Financial (NYSE:SYF) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,190 shares of the financial services provider’s stock after selling 336 shares during the period. Rossby Financial LCC’s holdings in Synchrony Financial were worth $613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in shares of Synchrony Financial in the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. lifted its stake in Synchrony Financial by 337.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 590 shares of the financial services provider’s stock valued at $31,000 after buying an additional 455 shares in the last quarter. MAI Capital Management lifted its stake in Synchrony Financial by 36.3% in the 1st quarter. MAI Capital Management now owns 627 shares of the financial services provider’s stock valued at $33,000 after buying an additional 167 shares in the last quarter. Headlands Technologies LLC purchased a new stake in Synchrony Financial in the 1st quarter valued at approximately $34,000. Finally, CNB Bank lifted its stake in Synchrony Financial by 20,366.7% in the 2nd quarter. CNB Bank now owns 614 shares of the financial services provider’s stock valued at $41,000 after buying an additional 611 shares in the last quarter. Institutional investors and hedge funds own 96.48% of the company’s stock.

Insiders Place Their Bets

In related news, insider Darrell Owens sold 600 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $67.95, for a total value of $40,770.00. Following the completion of the sale, the insider directly owned 21,372 shares in the company, valued at approximately $1,452,227.40. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian J. Sr. Wenzel sold 8,514 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $595,980.00. Following the completion of the sale, the insider owned 68,588 shares of the company’s stock, valued at approximately $4,801,160. This represents a 11.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Bank of America upped their target price on Synchrony Financial from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Wall Street Zen raised Synchrony Financial from a “hold” rating to a “buy” rating in a research note on Saturday, September 20th. Rothschild & Co Redburn assumed coverage on Synchrony Financial in a research note on Friday, August 1st. They issued a “neutral” rating and a $72.00 target price on the stock. JMP Securities increased their price target on Synchrony Financial from $77.00 to $88.00 and gave the stock a “market outperform” rating in a research note on Thursday, September 25th. Finally, Barclays increased their price target on Synchrony Financial from $83.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Synchrony Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

Synchrony Financial Trading Up 0.1%

SYF stock opened at $74.92 on Tuesday. The company has a market cap of $26.98 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 0.75 and a beta of 1.50. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $73.66 and a 200-day simple moving average of $66.03. Synchrony Financial has a 52 week low of $40.54 and a 52 week high of $77.41.

Synchrony Financial (NYSE:SYF) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $2.86 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.64. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.79 billion. Synchrony Financial had a return on equity of 22.96% and a net margin of 15.84%.The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.94 EPS. Synchrony Financial has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Synchrony Financial will post 7.67 EPS for the current year.

Synchrony Financial announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 15th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Synchrony Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Wednesday, November 5th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Wednesday, November 5th. Synchrony Financial’s dividend payout ratio is presently 13.10%.

About Synchrony Financial

Synchrony Financial, together with its subsidiaries, operates as a consumer financial services company in the United States. It provides credit products, such as credit cards, commercial credit products, and consumer installment loans. The company also offers private label credit cards, dual co-brand and general purpose credit cards, short- and long-term installment loans, and consumer banking products; and deposit products, including certificates of deposit, individual retirement accounts, money market accounts, and savings accounts, and sweep and affinity deposits, as well as accepts deposits through third-party securities brokerage firms.